TLDR
- Michael Saylor’s Strategy purchased 487 BTC for $49.9 million between November 3 and November 9.
- The latest acquisition brings Strategy’s total Bitcoin holdings to 641,692 BTC.
- The total cost of Strategy’s Bitcoin holdings now stands at $47.54 billion.
- Strategy financed the Bitcoin purchase through proceeds from a preferred stock offering.
- No common stock was issued during the recent stock offering to fund the purchase.
Billionaire Michael Saylor’s Bitcoin acquisition vehicle, Strategy, has purchased 487 BTC for $49.9 million. The recent SEC filing reveals the purchases took place between November 3 and November 9. This brings Strategy’s total Bitcoin holdings to 641,692 BTC, acquired for a total of $47.54 billion.
Strategy’s Latest Purchase
Strategy bought the 487 BTC at an average price of $102,557 per Bitcoin. The purchase was financed using proceeds from a preferred stock offering under Strategy’s at-the-market (ATM) program. The total purchase amounts to approximately $49.9 million in cash, including fees and expenses.
Saylor’s firm continues its multi-year strategy of acquiring Bitcoin despite volatile market conditions. The acquisition of 487 BTC adds to its already substantial position as the world’s largest corporate Bitcoin holder.
Funding Through Preferred Stock
The funding for Strategy’s latest Bitcoin acquisition comes from the sale of perpetual preferred stock. Between November 3 and November 9, the firm generated around $50 million in net proceeds. The four classes of stock issued under the ATM program were Series A Strife, Stretch, Strike, and Stride.
Unlike some companies that issue common stock, Strategy did not issue any new common shares. This signals that the firm continues to rely on preferred stock sales as its primary means of funding its Bitcoin strategy.
Strategy’s Ongoing Commitment to Bitcoin
Strategy remains unwavering in its commitment to Bitcoin as a long-term investment. The firm has accumulated Bitcoin through consistent smaller purchases rather than making large, speculative bets. The latest Bitcoin purchase strengthens the firm’s strategy of holding the digital asset as a store of value.
As of November 9, Strategy holds a total of 641,692 BTC, valued at over $65 billion. Saylor’s continued acquisitions demonstrate his belief that Bitcoin is a critical digital asset for long-term capital preservation.
At present, Strategy still has over $15.8 billion in Class A common stock available for issuance. This gives the firm room to make further Bitcoin acquisitions, continuing its Bitcoin-centric treasury model.
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